IonQ (NYSE:IONQ) Issues Quarterly Earnings Results

Key Points

• IonQ reported Q3 revenue of $173.8 million, up 336% year over year, and an adjusted loss per share of $0.29—better than analysts expected. Revenue also exceeded the $141.5 million consensus.
• The company raised its 2026 revenue outlook to $505 million–$515 million, citing $1.2 billion in remaining performance obligations and sold-out Superion 256 capacity for 2027.
• IonQ remains unprofitable, with a $133.6 million adjusted EBITDA loss in the quarter; analysts including Needham and Cantor Fitzgerald lowered their price targets while retaining positive ratings.

IonQ (NYSE:IONQ - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.29) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.06, FiscalAI reports. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%. The firm had revenue of $173.83 million during the quarter, compared to analysts' expectations of $141.49 million. During the same quarter last year, the firm earned ($3.58) EPS. The business's quarterly revenue was up 336.0% on a year-over-year basis.

Here are the key takeaways from IonQ's conference call:

• IonQ reported record Q3 revenue of $173.8 million, up 336% year over year, including $90.3 million from IonQ Platform and $83.5 million from SkyWater, which contributed two months of results. The company raised its 2026 revenue guidance to $505–$515 million, from $450–$460 million.
• Demand for quantum computers was strong: IonQ said its Superion 256 capacity for 2027 is sold out and that it is beginning to fill orders into 2028. Combined remaining performance obligations reached $1.2 billion, including approximately $290 million in new IonQ Platform contracts signed during the quarter.
• IonQ advanced to Stage C of DARPA’s Quantum Benchmarking Initiative, a program with a potential value of up to $300 million, and announced a Superion deployment at NVIDIA’s research center. Management also said more than 40% of IonQ Platform revenue came from customers buying multiple products.
• Management said the SkyWater acquisition is expanding IonQ’s manufacturing and foundry business: SkyWater’s quantum foundry revenue grew more than 30% year over year excluding IonQ, and the company extended its D-Wave agreement and signed a multi-year agreement with Qolab. Executives expect the expanded capabilities to support scaling and improve margins over time.
• Adjusted EBITDA was a loss of $133.6 million, while GAAP operating expenses were $606.9 million; management attributed some costs to acquisition integration and continued investment. IonQ expects Q4 Adjusted EBITDA to improve from Q3 and cited $3.7 billion in pro forma cash, but described profitability as a longer-term goal.

IonQ Stock Performance

Shares of NYSE:IONQ traded up $5.69 during mid-day trading on Friday, hitting $32.12. 42,656,594 shares of the company traded hands, compared to its average volume of 22,644,404. The firm's 50 day simple moving average is $36.91 and its 200 day simple moving average is $41.58. IonQ has a 52-week low of $24.92 and a 52-week high of $73.65.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC dropped their target price on IonQ from $65.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price objective on shares of IonQ in a research report on Tuesday, October 13th. Weiss Ratings lowered IonQ from a "sell (d+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Jefferies Financial Group dropped their price objective on IonQ from $80.00 to $65.00 and set a "buy" rating on the stock in a report on Friday. Finally, Cantor Fitzgerald reduced their price objective on IonQ from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.23.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ reported record third-quarter revenue of $173.8 million, up 336% year over year and above analyst expectations. Its loss per share was also narrower than forecast. Why IonQ Stock Is Soaring Today
• Positive Sentiment: The company raised its 2026 revenue guidance to $505 million–$515 million. Its backlog reached $1.2 billion, and Superion 256 capacity is booked through 2027—signs of robust demand and future sales visibility. IonQ: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: IonQ also advanced to Stage C of DARPA’s quantum benchmarking initiative, while its SkyWater acquisition is expected to strengthen manufacturing capabilities. IonQ Q3 2026 Earnings Call Highlights
• Neutral Sentiment: Analysts at Cantor Fitzgerald and Needham lowered their price targets but kept positive ratings, reflecting a more cautious outlook without abandoning the investment case. Cantor Fitzgerald recommendations
• Negative Sentiment: Despite the growth, IonQ remains loss-making. Investors are also weighing cash burn and potential dilution from its planned capital raise and stock-funded $1.15 billion Elisity acquisition, as well as uncertainty over how quickly quantum computing demand will translate into sustainable profits. IonQ Beat and Raised: Can the Quantum Stock Buck the Tech Selloff?
• Negative Sentiment: Zacks added IONQ to its Strong Sell list, a counterpoint to the earnings optimism and a potential source of investor caution. New Strong Sell Stocks for November 6th

Insider Transactions at IonQ

In related news, insider John Raymond sold 2,407 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $37.21, for a total value of $89,564.47. Following the sale, the insider directly owned 77,741 shares of the company's stock, valued at $2,892,742.61. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by corporate insiders.

IonQ Company Profile

IonQ, Inc NYSE: IONQ is a quantum computing company that develops full-stack quantum computing systems and related software. Its technology is based on trapped-ion quantum computing, which uses electrically charged atoms as qubits and is designed to support highly accurate quantum operations.

The company provides access to its quantum computers through cloud platforms and direct enterprise and research engagements. Its offerings include quantum computing hardware, cloud-based access, software tools, and professional services intended to help organizations explore applications in areas such as optimization, chemistry, materials science, artificial intelligence, and cybersecurity.

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